This is a forgotten mortgage stimulus program that was passed by Obama to help middle-class Americans reduce their monthly payments.
The government has announced that this program will expire and is making a final push urging homeowners to take advantage. If lowering your payments, paying off your mortgage faster, and even taking some cash out would help you, it is vital you act now.
When homeowners visit the official HARP approval Website, they may be surprised to find out they qualify for a plan that offers them shockingly low interest rates and reduced mortgage payments.
A Stimulus Plan for American Homeowners
Still unknown to many, this brilliant government program called the Home Affordable Refinance Plan (HARP) could benefit millions of Americans and reduce their monthly payments by as much as $4,264 each year! Homeowners have even used HARP to eliminate up to 15 years of mortgage payments!
If your mortgage is less than $625,000, your chances of qualifying for HARP could be high. The Government wants the banks to cut your rates, which puts more money in your pocket! This program has already helped more than 3.3 million U.S. households to refinance. It still could help hundreds of thousands – if only more homeowners would apply.
You could bet the banks aren’t too thrilled about losing all that profit and might secretly hope homeowners don’t find out before time runs out. Here’s why:
- The Program makes it easier to qualify for lower mortgage rates
- You have the option to shop lenders other than your current mortgage holder
So while the banks happily wait for this program to end, the government is doing absolutely nothing to extend the program and cut mortgage payments. The program is set to expire in 2018, but the good news though is that once you’re in, you’re in.
Where Do I Start?
With hundreds of mortgage lenders and brokers available, it can take consumers hours to simply contact each one separately and request a quote. The good news is that there are services that could help you save time and money by comparing multiple lenders at once. HARP Mortgage Advisor offers easy and fast comparisons. It takes about five minutes, and the service is 100% free. You have nothing to lose, except for your money problems!
Step Two: Once you answer 5 simple questions, you will have the opportunity to review the savings for your home.